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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, at 1,624 points, it’s worth taking a look at one of the factors which is expected to determine the future of shipping, i.e. newbuilding ordering activity. In its latest weekly report, which this time has a more of an annual feeling, Clarksons Hellas said that the shipyards will be quite happy with 2011, in terms of dollar contract value, although this this has been against the backdrop of a far smaller volume of vessels contracted this year.
According to Clarksons, “this can clearly be seen across the more conventional sectors, where in Tankers of over 10,000 dwt we have seen just under 100 Vessels being penned so far this year against more than 250 in 2010. In Dry bulk, again over 10,000 dwt, we have seen around 330 vessels contracted in 2011, against over 1,150 in 2010 – a drop of some near 70%!
It has been the high value sectors that have had a much more positive year with over 50 LNG carriers contracted this year, against a mere six in the previous calendar year.
Likewise, amongst within the Container sector, the Post]Panamax and Super Post]Panamax sizes saw a very good first half of the year, although the second half of the Year has been somewhat quieter. All in all though there has been a near 225% increase in the number of containerships ordered in the 8,000 TEU + sector this year against 2010.
Offshore has again been steadily active with the high oil price keeping up the demand from the owners and the charterers for more Vessels. Let us see what the New Year brings and if the more staple fodder of the Yards in terms of the dry and wet contracting sees resurgence in ordering” said Clarksons in its report.
Moving on to the second hand market and more specifically on to the dry bulk market, it mentioned that “the sale and purchase market showed few signs of resistance over the course of the year on the back of massive newbuilding deliveries and the availability of new buildings off reasonably prompt dates at reduced prices. Capes and panamaxes were hit particularly hard in the first six months of the year, not surprisingly with capes averaging US$8,546 over this timeframe, but more recently we have seen the smaller supra]handymax / handysize also register significant falls .Also at the forefront of potential Buyers minds were a sales candidates speed and consumption figures, and rightly so with bunkers over US$700 / ton. With this in mind, prospective Buyers of modern tonnage are also weighing up the merits of investing in the new 'eco' newbuilding designs from the Chinese shipyards in particular, but also now from Japanese and Korean shipyards, offering significant savings in this area. The first of these designs will be 'on the water' later next year, and how they perform under trading conditions will be watched carefully by both Owners and charterers.
The availability of finance ] or lack thereof ] also remains a major obstacle to Buyers of ships with, in the main, the traditional financing banks being able to be selective with whom they wish to lend to. To exacerbate the situation, the number of active ship finance lenders has reduced significantly with some banks looking to sell portfolios or exiting the shipping sector completely, leaving buyers with no option but to seek new banking relationships to secure funding. US dollars, in particular, are in short supply in international ship finance and this shortage coupled with the sovereign debt problems of Europe are among the reasons why banks have curtailed lending activities. Global banks have also become increasingly risk averse, tightening credit criteria and lending less thus requiring borrowers to increase equity contributions to protect against volatility in asset values and ensuring that break]even levels are set below historic earning levels. Although Asian banks are gradually playing a greater role in ship finance, it will take some time before they are significant capital providers for the shipping sector as capital is largely reserved for domestic clients. Together with an uncertain outlook for the physical markets, there seems to be a feeling that buyers will be seeking real value on the second hand side before committing to purchases” concluded Clarksons Hellas.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
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